At the presentation of the Pharming Group N.V. preliminary (unaudited) financial report for the full year ended 31 December 2017 CEO Sijmen de Vries said:
“The remarkable growth reported in 2017 was a direct result of our strategic decisions to reacquire the commercial rights to Ruconest in North America and implement direct marketing in the major Western European markets. We successfully established the commercial infrastructure to support our existing patients and expand the patient population benefiting from Ruconest. As a result, we delivered 547% growth in revenues from product sales in one year and reported our first year of operating profitability. We also continued to invest in our long-term growth through the expansion of the improved delivery methods for Ruconest. We are confident that with our increasing patient reach and advancing pipeline, we will be able to continue to deliver significant value to our stakeholders.
The HAE market is dynamic and product choice has increased and will continue to increase as new products enter the market for prophylaxis. Ruconest has a unique competitive advantage in that it remains the only product with the potential to be approved for both prophylaxis and treatment of attacks of HAE in the same dosage form. In order to increase the convenience of Ruconest for patients, we are also developing new forms of Ruconest with new routes of administration, including subcutaneous and intramuscular injection.
During the year we have also taken next steps in the initiation of clinical development for additional indications for Ruconest, including support for as-yet undisclosed Investigator Sponsored Studies.
As a result of taking direct control of key EU and US markets, we now operate with an appropriate commercial presence in both Western Europe and the USA and can focus fully on delivering on our commitment to become a net earnings-generating company during 2018.